Requisite Capital Management LLC Purchases Shares of 352,407 Range Resources Corporation $RRC

Key Points

• Requisite Capital Management acquired 352,407 shares of Range Resources, valued at approximately $13.1 million, making up 2.2% of its portfolio and representing a 0.15% ownership stake.
• Institutional investors own 98.93% of Range Resources, while analysts maintain a broadly neutral outlook: the stock has an average “Hold” rating and a consensus price target of $43.81.
• Range Resources exceeded quarterly earnings expectations with $0.79 in EPS versus $0.66 forecast and $759.6 million in revenue, while maintaining a quarterly dividend of $0.10 per share.

Requisite Capital Management LLC acquired a new position in Range Resources Corporation (NYSE:RRC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 352,407 shares of the oil and gas exploration company's stock, valued at approximately $13,106,000. Range Resources comprises 2.2% of Requisite Capital Management LLC's portfolio, making the stock its 6th biggest position. Requisite Capital Management LLC owned 0.15% of Range Resources at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. King Luther Capital Management Corp increased its holdings in shares of Range Resources by 49.8% in the fourth quarter. King Luther Capital Management Corp now owns 1,281,975 shares of the oil and gas exploration company's stock worth $45,202,000 after buying an additional 426,300 shares during the period. Vanguard Group Inc. boosted its holdings in Range Resources by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 25,553,637 shares of the oil and gas exploration company's stock valued at $901,021,000 after acquiring an additional 701,751 shares during the period. Life Cycle Investment Partners Ltd bought a new position in Range Resources during the 4th quarter worth approximately $21,129,000. B. Metzler seel. Sohn & Co. AG grew its position in Range Resources by 101.5% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 117,879 shares of the oil and gas exploration company's stock worth $4,156,000 after acquiring an additional 59,381 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Range Resources by 126.2% in the 1st quarter. First Trust Advisors LP now owns 1,614,502 shares of the oil and gas exploration company's stock worth $72,943,000 after purchasing an additional 900,869 shares during the period. Hedge funds and other institutional investors own 98.93% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Bank of America increased their price objective on Range Resources from $38.00 to $44.00 and gave the company a "neutral" rating in a research note on Tuesday, April 21st. The Goldman Sachs Group decreased their target price on shares of Range Resources from $44.00 to $39.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 30th. Raymond James Financial set a $45.00 price target on shares of Range Resources in a report on Monday, July 27th. Zacks Research cut shares of Range Resources from a "hold" rating to a "strong sell" rating in a research report on Monday, July 13th. Finally, Morgan Stanley cut their price target on shares of Range Resources from $50.00 to $44.00 and set an "equal weight" rating on the stock in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $43.81.

Range Resources Stock Performance

NYSE:RRC opened at $39.29 on Tuesday. The stock has a 50-day moving average price of $37.94 and a 200 day moving average price of $39.99. The stock has a market capitalization of $9.18 billion, a P/E ratio of 10.85 and a beta of 0.42. Range Resources Corporation has a 12-month low of $32.60 and a 12-month high of $48.31. The company has a current ratio of 0.65, a quick ratio of 0.65 and a debt-to-equity ratio of 0.18.

Range Resources (NYSE:RRC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The oil and gas exploration company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.13. Range Resources had a return on equity of 18.63% and a net margin of 25.04%.The company had revenue of $759.58 million for the quarter, compared to analysts' expectations of $744.78 million. During the same period in the previous year, the firm earned $0.66 EPS. The firm's revenue was down 2.7% compared to the same quarter last year. Equities research analysts forecast that Range Resources Corporation will post 3.49 EPS for the current fiscal year.

Range Resources Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend was Friday, June 12th. Range Resources's dividend payout ratio (DPR) is presently 11.05%.

Insider Transactions at Range Resources

In other Range Resources news, Director Reginal Spiller sold 3,500 shares of the business's stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $40.00, for a total value of $140,000.00. Following the sale, the director owned 13,421 shares in the company, valued at $536,840. The trade was a 20.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.10% of the company's stock.

Range Resources Company Profile

Range Resources Corporation, headquartered in Fort Worth, Texas, is an independent energy company engaged in the exploration, development and production of natural gas, oil and natural gas liquids. The company focuses its core operations on the Appalachian Basin, with a significant presence in Pennsylvania's Marcellus Shale. Through its drilling and completion activities, Range Resources seeks to optimize production efficiency while maintaining a disciplined approach to capital allocation and cost management.

The company's technical expertise centers on advanced horizontal drilling and hydraulic fracturing techniques, which it applies to unlock unconventional resources.

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